‘Father of emerging markets’ Mark Mobius turns bullish on China stock as property measures restore confidence
- The 87-year-old fund manager, who last month said China stocks ‘not attractive’, now believes they are ‘beginning to look good’
- A recent trip to southern China, where he saw signs of recovery first-hand, had an impact on his thinking too
The 87-year-old fund manager, who as recently as last month said China equities “were not attractive” in a Bloomberg interview, indicated on Thursday that his view had changed.
Mobius said he was not yet “super-bull” on China but that the country’s stocks were “beginning to look good now.”
“China’s stock markets went too low, and people were overly pessimistic. When you invest, you do not want to step in front of a high-speed train coming at you so you step aside and let the train pass,” he said.
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Mobius was speaking at a media briefing on Thursday to unveil plans to launch a new US$1 billion fund in September that could invest in China and Hong Kong stocks as well those in India, Turkey, South Korea and Taiwan.
